Buyer contacting seller - Posted by MLM


#1

Posted by Bill Gatten on December 08, 1998 at 24:53:53:

MLM,

In fact, a Realtor® is obligated to present ANY reasonable [purchase] offer you would present, whether he likes it or not. The key here, however, is to make your offer an "Offer to Purchase.? In other words, if you present an offer to “lease” with only the right to purchase later, there is no obligation on the Realtor’s part to do anything about it. Moreover, he/she would likely not want to anyway, since that cuts his commission way down. So the key is, you present the offer through the agent as an “Offer to Purchase via a Lease/Purchase,” rather than as a Lease Option. Then once you get your foot in the door, you can respond to the seller’s counters with anything you want. If he doesn’t counter, you have either no deal anyway, or you have a right to respond to the counter with you Lease Option idea.

Should work, but not worth spending money to sue anyone over, if the agent doesn?t know the law. UNLESS their refusal to do so could be proven to have cost you big money: e.g., if the seller were to take the same offer from someone else “brazen” enough to go behind the Realtor’s back, and you were to have been left with your refrigerator open (as it were).

Besides, the Listing Agreement that the Realtor® has with the seller commands payment of a commission if the seller does something on his own during the listing Agreement anyway.

There is nothing legal that prevents you from talking to anyone you choose to… about any subject you choose.

Use your better judgement here.

Bill


#2

Buyer contacting seller - Posted by MLM

Posted by MLM on December 07, 1998 at 17:50:27:

I found a property while doing a search on the internet.
It is listed with a realtor, so we contacted one of the
agents of that firm to get a little more info on the
property.

He returned our call and left info and address on our voice
mail. We never pursued it further because we #1thought
we had found another property that we liked better and #2
didn’t seem as if the agent would present a lease/option
offer. We had emailed him that we were only interested in
doing a lease/opt or other seller financing and his response
was seller will pay closing cost and that the house needed
"cosmetic" work done.

We haven’t seen the property yet, but wanted to know if it would be right to contact the seller personally to see if they will do a lease/opt deal and to get the facts on what “cosmetic” really means should we decided (after seeing it)
that we want the property.

Found out that the properties in that neighborhood go for around $135-145K and the asking price is $125K